Chapter 9.III, Problem 3RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Arrow Asphalt & Paving Company has 24 employees. 15 with gross earnings of $345 per week and nine with gross earnings of $385 per week. What is the total social security and Medicare tax the company must send to the Internal Revenue Service for the first quarter of the year?

To determine

**To calculate:** The total security and medicare tax of asphalt & paving company having

Explanation

**Given Information:**

In a company of

**Formula used:**

Total security and medicare tax per quarter can be calculated by the use of these formulas:

**Calculation:**

Consider the gross earning of

Total gross earning per week is,

For

So, total weekly gross earning of 24 employees is,

Now, social security for

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